The International Monetary Fund (IMF) praised El Salvador’s stronger-than-expected economic growth in a statement on Monday.
Notably, the update did not include earlier IMF suggestions that El Salvador would delay its strategy to accumulate bitcoin something the country – under the leadership of President Nayib Bukele – has continued to do since negotiating an IMF loan package several months ago.
Deviating from its normal strategy of adding bitcoin a day, in November El Salvador added more than 1,000 BTC to its national treasury amid steep sales that month. The government has now accumulated nearly 7,500 BTC worth about $660 million at current prices.
The IMF noted that negotiations on the sale of the government’s crypto-wallet Chivo are “well advanced. Discussions regarding the Bitcoin project continue, centered on increasing transparency, securing public resources and mitigating risks,” the agency added.
The IMF said El Salvador’s economy is expanding at a faster-than-expected pace on the back of improved confidence, record remittances and buoyant investment. Real GDP growth is expected to reach around 4% and the outlook for 2026 is “very good”.
In March, El Salvador reached an agreement with the IMF to receive a loan package of 3.5 billion dollars. “Close cooperation with the Salvadoran authorities is expected to continue in the coming period with the aim of reaching staff-level agreement on all policies and reforms necessary to complete the second review of the EFF program,” the IMF said.
